Bought before close, when after it held 52.30 the whole afternoon. Was looking for a Day 2 morning spike. Risk was initially 52.12. Was expecting a quick pullback if it didn’t gap up a lot. It held green the first minute after market open, so I moved my risk to G/R. Had to cut the loss into the pullback. Was expecting the pullback to be right at the open if it was going to be one. The stock turned out to behave just like I was positioned for, and got up to 54.75 in the morning.
Lesson: Play with a wider risk when you expect a morning washout, (In this case around 52.00 or 51.90-ish.) and let the first 5-minute candle form, before you change your risk.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-01-08 15:55:21 | WTW | buy | $52.580 | long |
2018-01-09 09:31:57 | WTW | sell | $52.170 | 0 |
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